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Al Jazeera America
Oct 17, 2013 11:00am EDT
default in more than 200 years will not happen. these twin threats to our economy have now been lifted and i want to thank those democrats and republicans for getting together and ultimately getting this job done. now, there's been a lot of discussion lately of the politics of this shutdown. let's be clear. there are no winners here. these last few weeks have inflicted completely unnecessary damage on our economy. we don't know yet the full scope of the damage, but every away lift out there believes it slowed our growth. we know that families have gone without paychecks or services they depend on. we know that potential homebuyers have gotten pure mortgages and small business loans have been put on hold. we know that consumers have cut back on spending, and that half of all c.e.o.'s say that the shutdown and the threat of shutdown set back their plans to hire over the next six months. just the threat of default of america not paying all the bills that we owe on time increased our borrowing costs, which adds to our deficit. of course, we know that the american people's frustration with
Al Jazeera America
Oct 16, 2013 7:00pm EDT
to meet him halfway and reach a deal that does good for our economy and our people. >> the white house said in up coming budget negotiations everything will be on the table. this comes as the president plods the senate compromise. those are our headlines. "real money with ali velshi" from washington, d.c. is next. >> it's down to the wire, a deal that averts economic disaster makes its way through congress like kicking the can down the road can still inflict harm upon us. welcome to washington, d.c. for a special one-hour show. i'm ali velshi, and this is "real money." ♪ >> welcome to "real money," a debt deal is finally in clear sight, but the vote imminent. the just hours away from a possible debt ceiling meltdown. it looks like congress will kick the debt crisis cans beyond the holidays. >> it's never easy for two sides to reach consensus. >> the majority leader now began a serious of conversations about a way to get the government reopened, and to prevent default. i'm confident we'll be able to do both. >> this is what we know as of now. leaders in the senate have crafted a last-
Al Jazeera America
Oct 17, 2013 12:00pm EDT
for the shutdown say they were doing it to save the american economy. but nothing has done more to undermine our -- [ technical difficulties ] -- >> hurt the american economy of course it has also hurt the deficit which is an irony of ironies, since the very members that were talking about their concerns contributed to the show down. >> and now that the government has reopened, and this threat to our economy is removed, all of us need to stop focusing on the lobbyists, and bloggers, and talking heads on radio, and focus on what the public sent us here to do. >> the participate was also talking about the legislative priorities that are come ing up. and he talked about immigration reform and the farm bill, which is really languishing, so the president said time to get back to work. dell? >> and libby the polls seem to indicate the american public is fed up with both the house and congress and not too happy about the white house either. are democrats avoiding gloating? >> they are for the most part. and any that are trying to get a positive spin on this is one of, okay, let's work together, we were
Oct 17, 2013 8:00am PDT
the u.s. economy an estimated $24 billion. what was the takeaway? for one, senator ted cruz, tea party republican and face of the shutdown. he was outside of the capital, clearly not the look of a man defeated. >> if senate republican his united and supported house republicans, supported the american people we could have had a very different outcome, but instead, senate republicans divided and in account fa, act ofly and aggressively attacked house republicans, attacked the effort. >> let's go to president obama right now. >> responsible republicans came together. the first government shutdown in 17 years is now over. the first default in more than 200 years will not happen. these twin threats to our economy have now been lifted and i want to thank those democrats and republicans for getting together and ultimately getting this job done. now there's been a lot of discussion lately of the politics of this shutdown, but let's be clear. there are no winners here. these last few weeks have inflicted completely unnecessary damage on our economy. we don't know yet the full scope of the damag
Al Jazeera America
Oct 21, 2013 5:30am EDT
in our economy. >> okay. >> we need to know what is happening and what consumers are feeling. >> we had government retail numbers that were delayed. we'll get those. we have other supporting non-governmental evidence that the economy is starting to weaken. we are going to get this data now that the government is back open. but most of the date a data we e going to get is applicable to before the shutdown began. the real impact of the shutdown is not going fo to be felt untie get later data. and the in things that are moore reareal-time like the consumer confidence numbers what we were seeing is not real good. in 2011 we had the second biggest drop ever. bigger than 9/11 and only lehmann was bigger. >> why, yo austin do consumers o feel disconnected in the first place? >> that is a great way to put it, but for whatever reason there is a broad feeling an consumer sen sentiment if therea disfunction in washington that does not bode well for the economy. >> that was in 2011. it took four months before it returned to the depressed level before the crisis sise crisises. we saw over two weeks
Al Jazeera America
Oct 17, 2013 8:00pm EDT
. >> nothing has done more to undermine our economy these past three years, than the kind of tactics that create these manufactured crises. >> the day after the government reopens but critics of the president warn the battle is far from over. the fiscal assess fire, what it -- cease fire what is means for wall street and main street? >>> and what is next, immigration reform, helping the nation's farmers as the dust settles, a call for congress to move forward. >> counting the cost of the government shutdown, the human cost. the lost productivity and the damaged reputations. tonight we'll look at the toll it has taken on the country. and with federal employees back to work, congress and the white house face major challenges. they have just three months to find a solution. >> at a moment when our economic recovery demands more jobs, more momentum, we've got yet another self-inflicted crisis that's set our economy back and for what? >> while the 800,000 government workers affected by the shutdown will be getting back pay, there is still the question of a long term budget solution. last
Oct 17, 2013 1:00am EDT
to do that. threatensstep that our economy, hurts our economy, hurts our growth level, an economy that has been through some rough times and is looking like it may be on the right track -- why would you take a step that would deliberately hurt our economy? and hurting our national defense. let me tell you, from my own experience -- i just had the opportunity to come from the pentagon -- a combination of the sequester and this shutdown has hurt our national defense. not only are some very important elements of our defense being 12 air force squadrons, combat squadrons of that have been grounded, half of our air force planes are not we haver combat -- ships that are not being deployed. there is maintenance that is not being done. we are virtually hollowing out our military. at the very important time when we face all kinds of threats abroad in this country. this is still a dangerous world that we live in. then the shutdown top of that, the furloughs, the impact this is having on the men and women in the defense department is inexcusable, in terms of protecting this country. america
Oct 21, 2013 2:00pm PDT
are not only beneficial, they are characteristic in a market economy. there's more than one way to make coke, grow wheat, even to produce drinking water. in africa, for example, you may see water collected in this fashion. our water supply comes to us through a network of dams, reservoirs, and pipes. one big reason for this difference is that labor is cheap and machinery expensive in africa, while labor is expensive and machinery relatively cheap here. the way we produce our products will be aected by the prices of production-- raw materials, labor, machinery. the businessman will find it in his interest to substitute cheaper factors for the more expensive-- high fructose for sugar, dams and pipes for human labor. in most cas, even when we're unaware of the change, we, the consumers, will benefit. ♪ jazzy all around ♪ with loads of room in the back ♪ ♪ studebaker lark saves you the jack ♪ ♪ big-car comfort ♪ easy to park ♪ you're going to have a ball in the lark ♪ ♪ the '62 lark studebaker had been attracting public attention with its innovative cars after world war ii. b
Al Jazeera America
Oct 17, 2013 10:00am EDT
back. this is an economy in recovery. to stick your leg out and trip a runner that's gaining momentum is what congress did. that runner stumbled but didn't fall but we are saying that watch out, we might stick our legs out again in january. it is simply irresponsible for that group of people over there to be standing in the way of a recovering economy where people are out of their jobs, they are still in homes that they can't pay mayor mortgages on. there is no victory tonight whatsoever. >> right. >> there is simply relief that it's not -- that we did not trip ourselves and actually fall. which we would have done had we reached that debt ceiling. >> again, it happens over and over. every time this happens, as you said it hurts the economy. the bill for this gridlock is in the billions, estimates are over 20 billion. >> sure. >> it threatened a downgrade to our credit rating again. it's had a negative impact on employment, business earn beings, borrowing costs, consumer confidence took the biggest hit since 2,008. residential real estate may have suffered. >> correct. >> where due see
Oct 22, 2013 8:00pm EDT
this is about improving the lives of women and families in the health of our nation's economy. because when you do invest in women in this kind of way than we invest in the economic success of our country. and so i would like to have you join me in welcoming some folks who are representatives frankly of a lot of stories that can be told freely throughout our communities. i want to welcome to the microphone a good friend of ours and a real leader mimi hassanein who is in montgomery county. she is originally from egypt that she has been a resident of montgomery county for 40 years preachy owns and operates three childcare centers and what an amazing progressive woman. she provides paid sick leave for employees. i would like you to welcome her. [applause] so that she can tell us why and what it means. mimi. >> good morning. [laughter] >> that's better. thank you very much. i am all about the empowered woman. let's get our wings and fly. my name is mimi hassanein and i do childcare. i have a story to share with you. it is an investment you're absolutely right great affordable childcare can happen.
Oct 17, 2013 10:00am EDT
>> standards and poors estimated the shutdown has taken about $24 billion out of the u.s. economy. some members of congress tweeted their thoughts and remarks about the shutdown. congressman michael mccaul said the president must negotiate in good faith. >> also congressman robert pittenger says -- a real crisis is a failure to live within our means. republican and democratic leaders met for breakfast this morning as they began talks at solving the budget problems. here's what they had to say after the meeting. >> we just want to say that the four of us, the ranking member of the senate budget committee, the ranking member of the house budget committee, chairman of the senate budget committee, and myself, we had a very good conversation. we decided how we are going to proceed over breakfast. we want to look for ways to find common ground, to get a budget agreement. our goal is for the good of the american people. to get the debt under control. to do smart deficit reduction. and to do things that we think the economy needs to get people back to work. those are our shared goals. we
Oct 16, 2013 10:00pm PDT
thing for the nasdaq composite and the s&p 500. all right, let's talk more about the economy, the impact it will have on the economy, not just in the united states but around the world. standard and poors says 20 billion is what it will cost the u.s., about one and a half billion for each day of the shutdown, and standard and poors warned the impact is not over. it says consumer confidence has been hurt by the shutdown. and if the issue resurfaces, people will be nervous and afraid to open up their checkbook. now, it was two years ago that america downgraded -- >> so what is s&p thinking right now in the wake of yet another 11th hour deal? well, cnn asked the managing director, john chambers. >> the reason we're at double a, and not triple a, a couple of reasons, that you have to worry about the united states not paying its debt on time indicates it is not worthy of a triple a rating. we believe we'll be back here in january, worrying about the same issues, and given the composition of congress, it will probably still be acrimonius, so we'll just have to see, but i fear this is a permane
Oct 15, 2013 9:00am EDT
later. is just sothing that dangerous to do to the u.s. and global economy, we should not be attempting it. danger, would the you and other democrats agreed to a gop provision that would deny the secretary of the borrowing?wers on guest: the details are being worked out. that is something that we are working on. we will see where they come down on it. i just hope that what we do not do is set up another crisis down the road. the american people are wearing a little thin with his antics. if, two months from now, we are facing another possible default, that will not be good for the confidence we need to get the economy functioning, get the good paying jobs we desperately need. the truth is, a growing economy solid a lot of these problems. that is what we should be focusing on, where we can partner with the private sector. unfortunately, the dysfunction coming out of congress is more of a hindrance to growth, rather than helping. is next in tennessee. republican caller. caller: good morning. you had a caller a few minutes ago talking about how the tea party people are called extremists and
Oct 19, 2013 12:00pm EDT
a huge impact on price. and the price of course will serve to hold the global economy in check unfortunately. but still there will be that demand. auto companies reported that china auto purchasing in september of this year exceeded any other previous month in history. so the chinese love mobblet the way americans love mobblet. and that's a huge impact on global demand. so i predicted for some years ow that whether 2016 or 2018 there will not be enough oil. not because the world doesn't have a lot of oil. but the technical difficulties of getting oil from new reservoirs while old ones decline is overwhelming to the industry. whether it's deep water brazil, whether it's arctic reserves, whether it's east africa, whether it's other difficult base sins, there simply cannot be enough done to meet the global demand in the middle of this decade. that's point one. point two, the technology revolution that has opened up shale formations including the incredible amount of intelligence in the well. we all think the world of smartphones. the technology that has gone into the well leaves i
Oct 16, 2013 12:00pm EDT
an economy has grown itself out of recession through austerity. move from crisis to cry sess as congress has done the last three years has cost the american economy 900,000 jobs. enough. reject austerity and uncertainty, open the government and pass the debt limit bill. i yield back. the speaker pro tempore: for what purpose does the gentleman from south carolina seek recognition? mr. wilson: i ask unanimous consent to address the house for one minute and revise and extend my remarks. the speaker pro tempore: the gentleman is recognized for one minute. mr. wilson: last night i hosted a teletown hall with constituents if my district. apart from them calling on end ats in the senate to the shuttown, many expressed -- about the disastrous obamacare rollout. during its first week, 9.47 million visited the website but only 36,000 completed enrollment due to glitches. it's been called excruciatingly embarrassing for the white house and he hopes they fire some people who were in charge of making sure this thing is supposed to work. secretary kathleen sebelius has failed, spending hundreds of milli
Al Jazeera America
Oct 15, 2013 7:00pm EDT
" is next with al jazeera. >> deal or no deal damage has been done to the u.s. economy and job market. and they're highly educated but struggling to make ends meet. a look at america's new working poor. >>> plus talking about recession resistant. now one entrepreneur made an entire business out of meatballs. i'm ali velshi, and this is "real money." >> this is "real money." you are the most important part of our show. so join the conference by using the #aj real money. we're 15 days into a government shutdown. and new study warns even if the u.s. temporarily defaults on its obligations a brief recession could be the result in 2014. that would push the jobless rate to 8.5%. it would cost 2.5 million jobs according to macroeconomic advisers firm in st. louis and others have predicted similar forecasts. others predict the recession would last longer and unemployment would rise to 8.9%. 3.1 million jobs lost. blame will rest squarely on the officials you collected to washington. here's why, the whole percentage point has been shaved off economic growth since 2010. if not for the uncertain
FOX Business
Oct 20, 2013 2:00am EDT
the chinese economy. if you think the chinese economy is going to continue to do great, buy it. otherwise, that's a risk. >> you did great. thanks a lot. david asman, "forbes on fox" is next. my man, dave. here he is. >>> well, forget about the politicians. how did obamacare come off at the end of the debt deal in some democrats say obamacare was a big winner since the changes that republicans wanted didn't happen. but check out these headlines. former obama press secretary robert givens calling the exchange glitches "excruciatingly embarrassing." only 1% of the website visitors signing up. aetna ceo knocking the law. hospitals lay off workers in part because of the law. on and on and on. so did obamacare come out this week as the big loser? hi, everybody. i'm david asman. welcome to "forbes on fox." in focus with mr. steve forbes. rick unger. mike osanian. rich karlgaard. and john tandy. was obamacare the bigger or the loser? >> it's a big loser because it will be implemented. make no mistake this is the obama's administration vietnam for the adolescent approach for healthcare
Oct 20, 2013 5:30am PDT
damage has been done to the economy as a result of the shutdown and the threat of default? >> i think it's significant in terms of the impact and the shutdown. what it doesn't take into account is the loss of global investor confidence and worry about this being repeated in early 2014. when you take that into account i suspect it's going to be about one percentage point for year for the next three or four years. i think longer term impact is much created in the measurement than the short term. >> we may very well get to do this all over again in a few months. >> where do you think the economy goes hitting an all time high this week? >> i think that the reaction of the financial markets as a whole and even economy on main street was not very much to this whole episode. i think it suggested to me the country's returning to mental health a little bit here from where it's been freezing up on every new armageddon story. this time it didn't. i think it's a good event, not a bad event. i think we might lose a half a percent in the first quarter. the impact will not be very much. >> let's put wa
Oct 16, 2013 10:00am PDT
to our economy can stop. >> the president has said from the beginning that he would not negotiate on this. now that it looks like there is a deal, do you feel like he fulfilled that pledge? >> what the president made clear was his position is that he would not allow a situation to develop where he paid ran some to any party in congress that was trying to extract unilateral political concessions in return for congress fulfilling its fundamental responsibilities. and he believes that's the right position for him to take, that it was the right position. it is the right position and it's the right position for presidents of the future to take because our economy is extremely dependent on the faith and credit that is invested in it by investors around the world. in other words, there is a real even if intangible value to the safeness of investing in the united states and as we've discussed many times over the past days and weeks, threatening that does real harm. and obviously default would cause even more harm, but we've already -- there is already a price that has been paid as we saw in octob
Oct 15, 2013 5:00pm PDT
's government is doing america's economy and the world economy potential harm. >> has the shut down, the fight already hurt the economy? >> absolutely, $20 billion already the damage to the economy but, you know, you talk to families that don't have a disability payment or talk to people who work with a contract with the government and haven't been able to get paid or somebody that has to be licensed and can't do their job because they are tied up in paperwork. they are feeling that at the kitchen table now. when you go back to 2009, you're talking about hundreds of thousands of jobs that should have been created that weren't because of the budget battles at a time when we really need to have traction in the economy, and again, anderson, from outside these walls, people look in. wall street looks in. people like the ratings agencies look in and say this was another wasted day in washington and we are too close to the edge. >> appreciate the update. congressman king joins me now. thanks for being with us. >> thank you. >> how do you describe what you've seen today? >> the game is over. we have
Oct 20, 2013 7:00am PDT
's the way to grow revenues. to grow the economy. now, you talk about increasing tax rates, we've just been through a great big tax increase in january of this year. we raised taxes at the president's request and the republicans went along with it. by $640 billion. so the question is how much -- what's the amount? all of that has to be negotiated but you can't just say that we will do an equal amount of entitlement restraint for an equal amount of additional tax increases. we've already raised taxes this year by $640 billion. these are all things that need to be negotiated and, yes, hopefully there will be some way to negotiate a budget or a major fiscal reform package. paul ryan has got some terrific ideas. paul ryan frankly in my view is one of the upcoming stars of the republican party. and he's got the right idea. and he's extraordinarily bright and i am delighteded to see that he's the one representing my party at the table. >> we'll be back in a moment. more with james baker including his thoughts on his own senator who is of course ted cruz. >> i do not like green eggs and ham. i do
Oct 15, 2013 9:00pm EDT
and debt celling extended, it could be a shock for america's economy, the world's economy and most importantly, to your economy. members of congress on the right and left why they failed to end this so far, plus some of the smartest men and women around on exactly what will happen when the clock strikes midnight tomorrow and if there is a deal, what about republicans and democrats? i'll ask bill richardson why ted cruz, wait for it, is a brilliant man and argues what congress is doing right now may be unconstitutional. >>> harry reid and mitch mcconnell working late into the night tonight drafting a deal on the tremendous pressure. joining me breanna and dana bash. what is going on down where you are and will there be any real action tonight? >> at the white house we don't expect to see president obama and the action very much on the senate. all eyes on the white house at this point. president obama said today he does believe that the shutdown will be over thursday. granted, that was this morning before everything went down in the house but that would also mean increasing the debt
Oct 17, 2013 2:00pm EDT
, how counterproductive it was, how harmful it was the economy, how damaging it was to average americans, how unnecessary it was, and how harmful it was to the party itself. as i have said, the president believes strongly we benefit from two strong parties, where there are differences of view, but where there is a commitment to working together to resolve differences where we can to move forward for the american people, and that is the spirit of what the president talked about today and it is a spirit with which he will approach all the work that needs to be done. >> i would like to follow on that. the president's remarks were not received well by republican on the hill. if he is really serious about living forward in a bipartisan way on some of these initiatives , why did he tried them for following bloggers and radio talkshow host? >> i think the president made two things clear, which it is absolutely appropriate to do. one, that as i just said, to shut down the we went through had real consequences, real ofts, as did the threat default that was precipitated by the true strategy pursue
Oct 15, 2013 11:00pm EDT
and protecting the world economy. it's pretty clear now there's just no way, chris, that the house republicans can deliver votes for anything. this is ultimately going to have to be house democrats and a handful of moderates. >> i just want to make sure that people are tracking this. because there's been a lot of twists and turns. basically the house tried to come up with its own version today of some kind of face saving measure which in the end it was whittled down to one demand which was to screw over their staff, which was to make their staff pay more out of pocket for health insurance. hundreds of thousands of people furloughed, all of the cascading misery from cancer trials to people on wic, to people on food stamps, all of that so they could give their staff a pay cut. now there is no demand and all there is is what you cook up in the senate and then what? >> well, that's the question. i mean, listen, we have never been arguing over whether there's a solution to this crisis that has the majority of votes in the senate and the majority of votes in the house. we have always known that a st
Oct 15, 2013 12:00pm EDT
, we don't know the full extent to the damage our nation's economy would suffer. but here's what we do know. default would mean higher interest rates for over 278,000 new yorkers with mortgages, loss of disability benefits for over 100,000 new york veterans and the threat of being unable to pay social security and medicare drug reimbursements to over 3,000 new yorkers. mr. speaker, the argument by some in this chamber that defaulting on our debt wouldn't be a big deal is outrageous. putting the full faith and credit of our nation, not to mention the strength of the world economy, on the line simply to prove a political point is both reckless and irresponsible. this house must put the best interests of the american people first and avert this disaster so we can get back to rebuilding to economy and nation building right here at home. i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. for what purpose does the gentleman from new jersey seek recognition? >> i ask unanimous consent to address the house for one minute. the speake
Oct 21, 2013 2:00am PDT
question-- how much was the economy hurt by this shutdown? >> it was hurt. by my calculation, it cost us about $24 billion in g.d.p., that's the value of all the sthingz we produce. so just to put that into context-- that shaves about a half a percentage point from growth in the fourth quarter, and i expected the economy to pick up pace but now i think it's unlikely. we're stuck in a slow-growth lackluster kind of environment. >> schieffer: i guess that lead to my second guess, does the reopening now, will it bring money back in somehow? could it be recovered during the holidays? >> we'll get a lot of it back. the shutdown was disruptive to lots of different parts of the economy, to trade, to mortgage lending, to and obviously tourist destinations. a lot of that will come back. i think prevading the entire economy is this uncertainty which i think the effects of that are corrosive have been accumulating and obviously given the nature of the deal that we're going to take this into next year will continue. >> schieffer: and what about just sort of how this is perceived in other countries a
Oct 16, 2013 11:00pm PDT
the debt ceiling and the government opening. a $24 billion hit to the american economy, according to s&p, the u.s. government is once again open for business. >> indeed, president obama signed the bill and opened the government, to avoid what could have been a catastrophic shutdown. >> it was approved by both majorities, in the house and senate. it will fund the government until january 15th. >> the plan would also extend the debt ceiling until february 7th. and in the end it made only a very small change to obama care. what sparked this crisis in the first place, including a profession for income verification. humans of thousands of federal workers off the job for two weeks, have been told to return to work later this morning. live, from our bureau in washington, d.c. erin, i guess the question here, is this a deal or delay? do we go through all of this again? because after all, it is all being put off for 90 days. >> reporter: yeah, john, it is somewhere in between, it is a deal, because of course, democrats have gotten largely what they wanted. we'll see the government reopen and av
Oct 17, 2013 11:30pm PDT
with other related departments. recovery of the u.s. world and economy in a stable policy environment. they believe they can solve the crisis in a timely manner. >> the global credit rating downgraded for u.s. sovereign debt, saying congress failed to solve that debt problem. and below botswana. >> they also talked about the americanizing the world. -- de-americanizing the world. does that mean buying different currency out there? >> probably referring to the idea of decoupling the growth of the u.s. dollar by nations around the world. the dollar dependency concerns china as the largest holder of u.s. primary debt. there is $3.7 trillion of currency that is believed to be u.s. dollars. for china, overreliance on the dollar is risky. they can be held hostage with party and politics. china has no better investment option than the dollar. >> they be the euro goes from being the villain to the hero at some point the way this is going. there has been cautious investors worrying about the drama that could be repeated next year. >> shares in europe dipped after news that the u.s. government
Oct 21, 2013 11:00am PDT
the fed stops stimulating the economy will the crash. you hope to have 35 + years. 30 percent of the time the market will be negative but 70 percent of the time you will be at a high periods this is just what we have to deal with. this is what we have to deal with, you have to protect your portfolio. timing is everything and retirement. you cannot draw on a down market. you need to have one of the dividend is coming in. you have to have cash to get through this. every three to five, seven years shall get this. if we learned any thing, the markets do recover but she'll have to have been come to get you through. >> let's take look get what we are afraid of. what about the united states printing too much money? >> what does it mean? the sets are getting the money and there are going to go and buy the same bonds. when those mature they will take that money and continue to buy them. this is even if they taper. when they stop stimulating the economy that means that the economy will be strong enough to just let the interest rates go up and the economy will be doing better. they will not accept a
Al Jazeera America
Oct 16, 2013 5:30am EDT
or don't do that slow the economy down? >> reporter: well, the first thing is they could say, gee, i don't know what our elected officials are going to do? what are our taxes next year? what is our spending for next year? i don't know. i'll wait and see before i make the plunge to hire or expand my plan. the that's the direct affect. the indirect affect could be that it raises interest rates and causes companies to cut back on expansion plans. >> if demand is there, if jobs are growing, if people have money, if the demand is there wouldn't though companies have to expand any way? >> they would, but the question is what time and at what pace. >> and you're saying that this continued uncertainty causes them to do the least possible? >> not the least possible. it depends on which company and how they're affected by the uncertainty. think back to the end of 2012 when approaching the so-called fiscal cliff. were taxes going to go up by $400 billion a year or stay unchanged? think of the uncertainty that the corporate planner was playing when trying to decide what the decisions should be made
Al Jazeera America
Oct 17, 2013 1:00pm EDT
on the job at hand growing the economy. >> it's a relief. i'm really happy to be back. i love my job. i love my coworkers, so it's really good to be able to see them again. >> hundreds of thousands of federal workers are being welcomed back on the job. >>> and mr. booker goes to washington, the newark major, getting a senate seat. ♪ >>> after 16 days, it is now starting to look like business as usual for the federal government. hundreds of thousands of employees are now back on the job, the nation's parks and historic sites are reopening, and president obama welcoming the deal that ended the government shutdown and saad the u.s. from default. >> these twin threats to our economy have now been lifted, and i want to thank those democrats and republicans for getting together and getting the job done. >> wall street seems worry about the impact. the dow down 34 points at this hour. the u.s. can still borrow money, but the deal has no concrete steps to reduce the nation's nearly $17 trillion debt. we begin with libby casey at capitol hill. what was the mood from the white house and capitol hill
Al Jazeera America
Oct 18, 2013 2:00am EDT
for his damaging the economy ann the president's estimation for damaging the nation's reputation overseas and he once again made a call for an end to the partisanship and gridlock that brought the nation to the precipice. >> and now that the government is reopened, and this threat to our economy is removed. all of us need to stop focusing on the lobbyist lobbyists and bs and talking heads on radio and the professionalism activists who profit from conflict and focus on what the majority of americans sent us here do and that's grow this economy, great good jobs, strengthen the middle class, educate our kids. lay the foundation for broad-based prosperity and get our fiscal house in order for the long haul. >> reporter: and so the president has about three months until january 15 when the next rounds of negotiations comes due. that spending bill to keep the government open to really get down to the nuts and bold on several issues that he mention specifically. first the budge it sell. house republicans and senate democrats sitting down together for the fires and immaterial coming up way unifie
Al Jazeera America
Oct 18, 2013 3:00am EDT
by the government. the co machin economy section p. keeping the government on track to me it's official target of 7.5% growth per year. the numbers look impressive by western standards the world's second largest economy is growing in its slowest rate in 23 years,. >> reporter: the exhibit halls of china's largest trade fair aren't as busy as they used to be. this biannual event is usually a game for how the country kreu'ss economy is doing, there are less exhibitors and many say they expect to make less mon. >> i business hasn't been too good but we have to adjust and make ourselves competitive by adapt to go market needs and lower our costs. >> reporter: there is little doubt, though, that china's economy in i growing of the drop in the export figures is reflective of a slow down, coming just as the government is putting reforms in place. the leadership wants to increase domestic consumption and is test-driving new policies in a free trade zone that just opened in shanghai. here regular layingses repor res tight. particular any in financial services. >> china is going to, you know, follow the stan
Al Jazeera America
Oct 18, 2013 5:30am EDT
this is an important time in the economy we need to know what consumers are feeling. we had government retail numbers that were delayed. we'll get those. we have seen other supporting non-governmental evidence that the consumer is starting to weaken. >> you are 100% right about that. we are going to get the date at at data ones the government is back open. but most of the data we get is applicable to the period before the shutdown began. the real impact of the shutdown is is not goings t going to be t neuntil we get real data. the consumer confidence numbers what we were seeing was not good we saw in 2011 when we had the fight over the shutdown. the second biggest two moment drop ever. bigger than 9/he is an11 and bin other catastrophes. >> why do consumers who feel disconnected go th from the govt in the first place -- that i >> that is a great way to put it. there is a broad feeling and sentiment if there is radical feeling in washington it does not bode well for their budgets and the economy. that was in 2011. it took four or five months before consumer confidence returned even in the depressed le
FOX Business
Oct 20, 2013 1:00am EDT
for an economy. yeah, it's not ideal. you can't retire at 65 necessarily. you just live off of your social security and investments because you're going to live a lot loer because of the health care system, which means you have to work longer. and you're working, you're probably going to be spending more money. it's good for the economy. is it ideal for new workers a high unemployment level? no, but for everybody it's great. for employers who want to have skilled workers at a low wage for profits, it's really great. >> but, gary, the problem here is really why they are working longer. many of them because they have to. they can't retire. they lost a lot of money in the recession, and they are not making it up now. >> exactly, brenda. those young people that tracy talked about, even without their showers and their poor work ethic, they would be able to get jobs if the economy was growing like it did in the '90s. unfortunately, you have home prices that inflation adjusted are back still at 1990 levels. you have a stock market in place and adjusted at 1998 levels. gdp is flat. income is flat.
Oct 22, 2013 6:30pm EDT
the trend with a slushish economy with job growth. he's hiring workers because business is up. >> good morning american limousine. >> reporter: in business for more than 20 years, dave says his customers are willing to spend money on an occasional luxury to offset the belt tightening they are enduring. >> people feel a little more at's and aat ease and are living again. they have been trapped in homes and tightening budgets for so long, they are having fun again. >> reporter: with part time employees, he is hiring not just drivers but sales people, as well. among the new hires, 22-year-old carl rogers. rogers spent the last year in and out of government job training programs trying to improve his education and technology skills before getting the job offer last month. >> so i first called american limousine and they called me back. got the job and i was excited. i feel good, making money, get to provide for my family, so it's nice. >> reporter: rogers is among just 126,000 new hires in the private sector in september, part of a job growth picture that even top white house officials adm
Oct 18, 2013 7:00am EDT
-boggling. an extra 2oduce million barrels of oil a day and trillions of dollars for the economy. just to the north of rio de janeiro in this fishing village, oil is taking over. big multinationals, contractors, and their support vessels are queuing up for their share of the windfall. areish companies, too, investing heavily in the oil boom. --hough neither bp nor joined into the bidding process, smaller, specialized contractors say they have to be where the oil is now. is on theth sea downside. every day there is less oil, less gas there. , ifhink those companies they do not look to africa and south america in the future the business will strengthen -- shrink. >> brazil is already training workers from poorer parts of the country to work on the oil platforms. but there are concerns it has neither the experience or the infrastructure to double its daily output to 4 million barrels and oil when the field comes online. the head of brazil's national oil agency dismisses suggestions that the country's state- dominated sect or can't cope with such a huge challenge. are working on new platforms, new dril
FOX News
Oct 16, 2013 10:00am PDT
. and continuing harm that these two situations have caused to the economy can stop. >> the president said from the beginning that he would not negotiate on this. now it looks like there is a deal. do you feel he fulfilled that pledge? >> what the president was made clear in his position, he would not, allow a situation to develop, where he paid ransom to any party in congress that is trying to extract unlateral concessions in return for congress fulfilling their responsibilities. he believes is the right position to take and it was and is the right position and right for the presidents of the future to take because our economy is -- extremely dependent on the faith and credit that is invested in it by investors around the world. in other words, there is a reintangible value to the safeness of investing in the united states. and as we discussed many times over the past days and weeks, threatening that does real harm and default causes even more harm. there is already a price that has been paid as we saw in october. as in 2011 and now in the various ways that the flirtation with crossing that li
Oct 20, 2013 11:00pm PDT
a holding back the economy. now the biggest test of the president's health plan is yet to come. the biggest week in washington. were there any winners? our round table is here to break it down, andrea mitchell, david brooks, e.j.dionne and maria bartiromo. plus, the iranian nuclear threat. the republican senators are proposing even tougher sanctions to get iran to dismantle its nuclear facilities. in a sunday morning exclusive, i'll ask benjamin netanyahu about his concerns over the irani charm defender. i'm david gregory. all this ahead on "meet the press," october 20. >>> good sunday morning. what a week it was in washington. before we talk to jack lew and senator coburn, i'm here with our panel, david brooks, e.j.dionne, andrea mitchell and maria bartiromo who celebrated her 20th year in washington. congratulations. >> thank you. >> first takes from everybody. what has changed after this dramatic week? >> i think the republicans may tire of doing faceplants, so i think the modern concessions that exist may have had a little manhood injection. they need to stand up to the tea party and be
Oct 18, 2013 6:00pm EDT
industry is the backbone of the economy of bangladesh. everybody wants a job in the garment industry. that is something that needs to be said. with respect to the prince, you have two different safety accords now. the european retailers signed onto one safety accord. wall mart, gap, and other american retailers refuse to sign on and came up with her own accord saying this was the best guarantee of worker safety and building safety in bangladesh and they will begin on these inspections of factories in bangladesh. just earlier this month, there was another fire at a unit that had clothing linked walmart and at least 10 people were killed in this factory fire. walmart claimed this particular would not fall under their inspections. so there is a lot of gaps that are still not going to be included in these new safety accords. they don't really say very much about paying workers more, treating workers with more respect. i think it is important to remember that it has been almost a year since the tazreen factory fire and at least 112 workers were killed. walmart shorts were found in the rub
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